Vivek Mishra

Sr. Account Manager
Chaudhary Naval & Associate.

[NCMIndia Council For Men Affairs @NCMIndiaa]

No Dogs will be allowed inside #DelhiMetro
No Dogs will be allowed inside Metro Permises
And now No Dogs will be allowed even in Metro Parkings.
Good Job @OfficialDMRC

[CA Rajendra Sharma @carajendra89]

⚠️ *TRACES Challan Correction — Important Update for FY 2026-27*

If you deposited TDS challan in FY 2025-26 (under old IT Act 1961) but it belongs to FY 2026-27 (new IT Act 2025) - here's how to correct it👇

✅ The new TRACES portal for Income Tax 2025 compliance does NOT yet support challan correction.

✅ Use the OLD TRACES portal (IT Act 1961) to submit correction:
• Go to Statement / Payment › Request for OLTAS Challan Correction
• Existing FY: 2025-26 → New FY: 2026-27
• Confirm & Submit

📸 Screenshots of the process attached.

[Vivek Mishra @vivekofficial0]

@rapidobikeapp The driver overcharged my mother and subjected her to rude behavior and bullying. Such conduct is absolutely unacceptable; this driver must be banned. The safety of women is of paramount importance in the Delhi-NCR region. @DelhiPolice

[Rekha Gupta @gupta_rekha]

🚇 दिल्ली मेट्रो अब और तेज, और करीब पहुंच रही है।

🚈 दिल्ली मेट्रो Phase V(B) को Green Signal मिल चुका है।

🚆 97+ किलोमीटर नई लाइनों का निर्माण किया जाएगा।
🚉 65 नए स्टेशन विकसित किए जाएंगे।
💰 ₹48,204 करोड़ का इंफ्रास्ट्रक्चर प्रोजेक्ट
🛤️ 7 नए रूट्स पर मेट्रो का विस्तार
🎯 2029 तक पूरा करने का लक्ष्य रखा गया है।

#ViksitDelhi

[Pratibha Gupta @PratibhaGoyal]

Tax Audit Applicability!

(PS: This is not my work. The person who has written it so nicely should have put watermark)

[Vivek Mishra @vivekofficial0]

@IncomeTaxIndia while i am making the form 145 Part D the Currency option not available that the reason the bank is not processing the remittance

What is the solution for this please confirm?

[CA Akhil Pachori @akhilpachori]

Key changes in Non-Resident TDS under Income Tax Act, 2025

[FinTaxPro @fintaxpro_CA]

📢 Complete TDS Guide on Property Purchase | Form 141 Simplified 📄
Buying property? Don't get caught by TDS surprises! 🏠💰

Here's your complete guide to TDS on Property Purchase under Section 393(1):

✅ Form 141 Requirements - Know exactly how many forms you need ✅ Payment Timelines - Never miss a deadline again
✅ Interest & Penalties - Avoid costly mistakes (₹10,000 to ₹1,00,000 penalty!) ✅ Consideration Rules - What's included and what's not

🎯 Key Highlights:
• Rate: 1% on transactions above ₹50 Lakhs
• Late filing fee: ₹200/day (capped to TDS amount)
• Interest: 1% to 1.5% per month on delays
• Includes parking, club membership, maintenance fees

💡 Pro Tip: Multiple sellers can now be captured in ONE Form 141!

📌 Save this guide for your next property transaction

👉 Follow @FinTaxPro for more tax-saving insights!

[Income Tax India @IncomeTaxIndia]

Old Forms 24Q and 26Q have been replaced with New Forms 138 and 140.

✅These are quarterly TDS statements.
✅Form 138 - for salary payments.
✅Form 140 - for other payments.

#IncomeTaxAct2025 #SaralKanoonSashaktBharat

@nsitharamanoffc @officeofPCM @FinMinIndia @PIB_India

[Vivek Mishra @vivekofficial0]

@OfficialDMRC
Refer the details the amount was deducted from my account but recharge was failed but refund not received yet

Pls refund the amount in our account with immediate

[CA Harshil sheth @CA_HarshilSHETH]

#Budget2026

Good changes

1. PF ESI employee contribution late deposited after its Due date of deposit - earlier disallowed but Now allowed if done before ITR due date

2. MAT credit allowed in new regime. MAT reduction to 14% and MAT as final tax so no c/f

3. ITR 3 due date for Non Audit ITR up to 31st August

4. Revised return date up to 31st March

5. 15G 15H related ease to Taxpayer

Bad changs
1. Tax Audit ki heavy late fee of Rs 75000 after 30-9

2. Tax Audit filling Window will be more hectic as ITR 3 non audit date is extended to 31-8

3. Interest not allowed as deduction for dividend

4. MULTIVERSE OF ADDITIONAL TAX, LATE FEES AND PENALTIES

5. BUY BACK TAXATION

6. HEAVY STT

[CA Akhil Pachori @akhilpachori]

#Budget2026 Highlights

- 🧾 New Income Tax Act, 2025 effective from 1 April 2026
- 🗂️ Simpler income tax forms to be notified soon

Revised ITR Filing Timelines

- 📄 ITR-1 & ITR-2: Due date 31 July
- 🏢 Non-audit business & trusts: Due date 31 August
- 🔁 Revised return filing allowed up to 31 March with nominal fee

Foreign Income & Asset Disclosure

- 🕕 One-time 6-month foreign asset disclosure scheme
- 👨‍🎓 Applicable to small taxpayers, students & NRIs
- 🛡️ Disclosure with immunity, subject to conditions

International Taxation & Incentives

- 🌐 Tax holiday till 2047 for foreign companies providing cloud services in India
- 📉 MAT exemption for non-residents opting for presumptive taxation

TCS Rationalisation

- 🧳 TCS on overseas tour packages reduced from 5%/20% to 2%, no limit
- 🏥 TCS on medical & education remittances reduced from 5% to 2%

TDS & Withholding Tax Changes

- 🧑‍💼 TDS on property purchase from NRIs using PAN instead of TAN
- 👷 Supply of manpower services under Section 194C

Exemptions & Relief Measures

- 🚗 MACT interest income exempt from tax for natural persons
- ❌ No TDS on MACT interest
- 🌾 Co-operative sector dividend income exempt, subject to conditions

Compliance Simplification

- ⏳ Safe harbour applications valid for 5 years
- 📘 Definition of “accountant” rationalised
- 🧾 Late Tax Audit Report submission treated as Late Fees

Capital Markets

- 📊 STT on Futures: 0.02% → 0.05%
- 📊 STT on Option Premiums: 0.10% → 0.15%
- 📊 STT on Option Exercise: 0.125% → 0.15%

Customs & Trade Facilitation

- 👟 Increased duty-free goods limit for inputs, leather & synthetic footwear

Penalty Provisions

- 🚨 Misreporting income attracts 100% penalty of tax amount
- 🛡️ Immunity schemes expanded to cover specified cases

[CA Pooja Gupta @cagurujii]

गलती होने पर कौन सी ITR भरें? 🧐 Which ITR to choose ITR-R or ITR-U 👨🏻‍💻

#caguruji #tax #notice #incometax

[CA Akhil Pachori @akhilpachori]

Big IPO’s coming soon

[FinTaxPro @fintaxpro_CA]

New GSTIN Advisory by @Infosys_GSTN for GSTR 9 Filing for FY 2024-25
Watch video analysis - https://t.co/X38qxDaobl

[EPFO @officialepfo]

With the Government bringing the Four Labour Codes into effect, IT sector workers now benefit from stronger protections and fairer workplace practices.

#श्रमेवजयते #ShramevJayate

@mansukhmandviya @ShobhaBJP @PIB_India @MIB_India @LabourMinistry @narendramodi @MIB_India @PMOIndia

[Taxation Updates (CA Mayur J Sondagar) @TaxationUpdates]

Invoice ManagementSystem (IMS) & Auto-Populated GSTR-2B Handling

By B.Venakateswaran IRS, Asst. Commissioner Central GST(Retired) @beevenkat

@FinMinIndia @cbic_india
1/2

[CA Bimal Jain @BimalGST]

🔥📛 HC: Form GST ASMT-10 notice mandatory before issuing SCN u/s 73 for returns scrutiny

➡️ The Court held that initiation of proceedings under Section 73 must be preceded by scrutiny of returns under Section 61. This requires issuance of Form GST ASMT-10 to confront discrepancies. Since this was not done, the SCN was deemed without jurisdiction.

➡️ Revenue’s failure to issue Form ASMT-10 before proceeding under Section 73 was considered a clear violation of statutory procedure. The HC relied on Rajasthan HC in Goverdhandham Estate (affirmed by SC) to declare such action unauthorized and void.

➡️ The SCN was based on mismatch between the annual return and reconciliation statement due to non-furnishing of Table 14 of GSTR-9C. Since filing Table 14 was optional for FY 2017-18, absence of such data could not legally constitute a discrepancy.

➡️ The Court emphasized that GST is a self-assessment regime. Verification of correctness of returns can only be done through Section 61 scrutiny, and any conclusion of wrongful ITC availment must flow from this process. Without following it, Section 73 jurisdiction cannot be assumed.

➡️ As the Revenue invoked Section 73 without complying with mandatory Section 61 procedures, the HC ruled the entire proceedings—including the SCN for ITC mismatch of ₹19.5 crores—unauthorized and contrary to law.

✔️ Gujarat HC - PepsiCo India Holdings Pvt. Ltd. vs. UOI & 3 Ors. [WP(C)/6960/2023]

#GST #GSTUpdate #GSTCaseUpdate #AdvBimalJain #GSTwithBimalJain #a2ztaxcorpllp #GSTUpdate #GSTcaseLaw

[CA Ruchita Vaghani @R_N_Vaghani]

🚨4 Major GST Changes Applicable From October 2025

1. 🧾 ITC Auto-Population Discontinued: -
➡️ITC won’t auto-flow into GSTR-2B anymore.
➡️Taxpayers must manually accept/reject invoices in the Invoice Management System (IMS).
➡️Only accepted invoices → eligible for ITC in GSTR-3B.
⚠️ More active reconciliation ahead!

2. 📊 GSTR-3B Tax Liability Locked: -
➡️Auto-populated liability figures in GSTR-3B can’t be edited.
➡️Corrections/amendments only via GSTR-1/1A.
➡️Review GSTR-1 carefully to avoid repeated
amendments.

3. 📉 Credit Notes & ITC Reversal: -
➡️Suppliers can’t reduce tax liability with credit notes directly.
➡️First, buyer must reverse related ITC in their return.
➡️Only then supplier’s tax liability reduces.
✅ This ensures both parties’ records are in sync.

4. 💸Invoice Wise Reporting in GST TDS: -
➡️GSTR-7 filing will require invoice-wise reporting of TDS
➡️All deductors must furnish invoice-level details while filing.

[Taxation Updates (CA Mayur J Sondagar) @TaxationUpdates]

Major Changes in GSTR-9 &
GSTR-9C for FY 2024-25 by CA Shafaly Gidrharwal @shaifalyca

Must-Know for Taxpayers &
Professionals